The global economy has ended up performing better than the IMF's expectations in the second and third quarters. This is expected to lead to 'a small upward revision' to its growth forecasts next week.
According to the IMF, global public debt will reach a record high of 100% of GDP this year.The IMF has cautioned that any economic performance over the coming months will inevitably depend on how the pandemic unfolds.International Monetary Fund
The IMF projected in June a contraction of 4.9% in global GDP this year. However, the global economy has ended up performing better than the Fund's expectations in the second and third quarters. This is expected to lead to "a small upward revision" to its growth forecasts which are due to be presented next week.
The other side of this vast stimulus is the soaring levels of government debt. According to the IMF, global public debt will reach a record high of 100% of GDP this year. The IMF does not expect the global economy to return to its pre-crisis levels "over the medium term."The IMF has cautioned that any economic performance over the coming months and years will inevitably depend on how the pandemic unfolds.
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